Related papers: Dynamically Consistent Objective and Subjective Ra…
Towards the realization of a sustainable, fair and inclusive society, we proposed a novel decision-making model that incorporates social norms in a rational choice model from the standpoints of deontology and utilitarianism. We proposed a…
Given a set of items and a set of evaluators who all individually rank them, how do we aggregate these evaluations into a single societal ranking? Work in social choice and statistics has produced many aggregation methods for this problem,…
We study the classical discursive dilemma from the point of view of finding the best decision rule according to a quantitative criterion, under very mild restrictions on the set of admissible rules. The members of the deciding committee are…
How an economic agent (a firm, an investor or a financial market) evaluates a contingent claim, say a European type of derivatives X, with maturity t? In this paper we study a mechanism of dynamic expectations and evaluations. We give the…
The constrained voter model describes the dynamics of opinions in a population of individuals located on a connected graph. Each agent is characterized by her opinion, where the set of opinions is represented by a finite sequence of…
Economists often estimate economic models on data and use the point estimates as a stand-in for the truth when studying the model's implications for optimal decision-making. This practice ignores model ambiguity, exposes the decision…
We propose a continuous-time nonlinear model of opinion dynamics with utility-maximizing agents connected via a social influence network. A distinguishing feature of the proposed model is the inclusion of an opinion-dependent…
Autonomous software agents operating in dynamic environments need to constantly reason about actions in pursuit of their goals, while taking into consideration norms which might be imposed on those actions. Normative practical reasoning…
Opinion dynamics of random-walking agents on finite two-dimensional lattices is studied. In the model, the opinion is continuous, and both the lattice and the opinion can be either periodic or non-periodic. At each time step, all agents…
Decision-makers often act in response to data-driven predictions, with the goal of achieving favorable outcomes. In such settings, predictions don't passively forecast the future; instead, predictions actively shape the distribution of…
We introduce a number of logics to reason about collective propositional attitudes that are defined by means of the majority rule. It is well known that majoritarian aggregation is subject to irrationality, as the results in social choice…
Two main procedures characterize the way in which social actors evaluate the qualities of the options in decision-making processes: they either seek to evaluate their intrinsic qualities (individual learners), or they rely on the opinion of…
Understanding the nature of strategic voting is the holy grail of social choice theory, where game-theory, social science and recently computational approaches are all applied in order to model the incentives and behavior of voters. In a…
We develop a model to study the role of rationality in economics and biology. The model's agents differ continuously in their ability to make rational choices. The agents' objective is to ensure their individual survival over time or,…
Unaided human decision making appears to systematically violate consistency constraints imposed by normative theories; these biases in turn appear to justify the application of formal decision-analytic models. It is argued that both claims…
Dynamic Random Subjective Expected Utility (DR-SEU) allows to model choice data observed from an agent or a population of agents whose beliefs about objective payoff-relevant states and tastes can both evolve stochastically. Our observable,…
In various situations, decision makers face experts that may provide conflicting advice. This advice may be in the form of probabilistic forecasts over critical future events. We consider a setting where the two forecasters provide their…
Humans currently use arguments for explaining choices which are already made, or for evaluating potential choices. Each potential choice has usually pros and cons of various strengths. In spite of the usefulness of arguments in a decision…
Dynamic decisions are pivotal to economic policy making. We show how existing evidence from randomized control trials can be utilized to guide personalized decisions in challenging dynamic environments with budget and capacity constraints.…
We introduce the confident voter model, in which each voter can be in one of two opinions and can additionally have two levels of commitment to an opinion --- confident and unsure. Upon interacting with an agent of a different opinion, a…